Projected and actual costs are both important elements of a budget because they provide different types of information that can help you manage your finances effectively.
By comparing projected and actual costs, you can gain insights into your spending patterns and adjust your budget accordingly. For example, if your actual costs are consistently higher than your projected costs for a particular category, it may be an indication that you need to adjust your budget or look for ways to reduce your expenses in that area.
On the other hand, if your actual costs are consistently lower than your projected costs, you may be able to reallocate those funds to other areas of your budget or use them to save for future expenses.
This Notion template helps you track those two important elements of your finances in realtime.